JPMorgan Chase & Co. Purchases 98,850 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

JPMorgan Chase & Co. boosted its stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,615,985 shares of the real estate investment trust's stock after buying an additional 98,850 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.97% of Empire State Realty Trust worth $17,905,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Empire State Realty Trust by 9.6% in the 2nd quarter. Principal Financial Group Inc. now owns 94,872 shares of the real estate investment trust's stock worth $890,000 after acquiring an additional 8,288 shares in the last quarter. Rhumbline Advisers boosted its stake in Empire State Realty Trust by 3.5% in the second quarter. Rhumbline Advisers now owns 251,059 shares of the real estate investment trust's stock worth $2,355,000 after purchasing an additional 8,406 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Empire State Realty Trust by 41.8% in the second quarter. Victory Capital Management Inc. now owns 244,910 shares of the real estate investment trust's stock worth $2,297,000 after purchasing an additional 72,241 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Empire State Realty Trust by 2.9% during the second quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust's stock worth $364,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Empire State Realty Trust in the second quarter valued at $400,000. 67.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. StockNews.com lowered shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, November 2nd.

Empire State Realty Trust Trading Down 2.5 %

Shares of NYSE ESRT traded down $0.24 during midday trading on Friday, hitting $9.54. The stock had a trading volume of 1,559,572 shares, compared to its average volume of 980,779. The firm has a market cap of $1.59 billion, a P/E ratio of 35.33 and a beta of 1.40. Empire State Realty Trust, Inc. has a fifty-two week low of $8.78 and a fifty-two week high of $11.62. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The company's 50-day simple moving average is $10.65 and its 200 day simple moving average is $10.55.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. The firm had revenue of $199.60 million during the quarter. During the same period last year, the firm posted $0.25 EPS. Research analysts anticipate that Empire State Realty Trust, Inc. will post 0.93 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, December 16th. Empire State Realty Trust's dividend payout ratio (DPR) is 51.85%.

Insider Activity at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 10,000 shares of the company's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the completion of the sale, the executive vice president now directly owns 86,807 shares of the company's stock, valued at $876,750.70. This represents a 10.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.95% of the stock is currently owned by company insiders.

Empire State Realty Trust Profile

Empire State Realty Trust, Inc NYSE: ESRT is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT's flagship Empire State Building - the "World's Most Famous Building" - includes its Observatory, Tripadvisor's 2023 Travelers' Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.